EnVVeno Medical Correlations

NVNO Stock

USD 3.53 0.04 1.15%

The current 90-days correlation between enVVeno Medical Corp and LENSAR Inc is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as EnVVeno Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if enVVeno Medical Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

EnVVeno Medical Correlation With Market

Average diversification

The correlation between enVVeno Medical Corp and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding enVVeno Medical Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in enVVeno Medical Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving against EnVVeno Stock

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0.61	EMBC	Embecta Corp	Pair Corr
0.52	WST	West Pharmaceutical	Pair Corr
0.43	ADUS	Addus HomeCare	Pair Corr
0.55	INZY	Inozyme Pharma	Pair Corr
0.48	ILMN	Illumina	Pair Corr
0.4	NAMSW	NewAmsterdam Pharma	Pair Corr
0.37	ADTX	Aditxt Inc	Pair Corr
0.35	XFOR	X4 Pharmaceuticals	Pair Corr

Related Correlations Analysis

	AZYO	AIMD	SRDX	LNSR	IRIX	RXST	AXGN	TMCI	LUNG	OFIX
AZYO		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AZYO
AIMD	0.0		-0.66	0.67	-0.52	-0.68	0.72	0.62	0.09	-0.09	AIMD
SRDX	0.0	-0.66		-0.84	0.72	0.65	-0.78	-0.86	-0.31	-0.09	SRDX
LNSR	0.0	0.67	-0.84		-0.59	-0.63	0.73	0.8	0.1	0.04	LNSR
IRIX	0.0	-0.52	0.72	-0.59		0.77	-0.74	-0.54	-0.58	0.27	IRIX
RXST	0.0	-0.68	0.65	-0.63	0.77		-0.89	-0.42	-0.35	0.53	RXST
AXGN	0.0	0.72	-0.78	0.73	-0.74	-0.89		0.61	0.32	-0.24	AXGN
TMCI	0.0	0.62	-0.86	0.8	-0.54	-0.42	0.61		0.22	0.39	TMCI
LUNG	0.0	0.09	-0.31	0.1	-0.58	-0.35	0.32	0.22		-0.22	LUNG
OFIX	0.0	-0.09	-0.09	0.04	0.27	0.53	-0.24	0.39	-0.22		OFIX
	AZYO	AIMD	SRDX	LNSR	IRIX	RXST	AXGN	TMCI	LUNG	OFIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TMCI	+ 0.8	LNSR
RXST	+ 0.77	IRIX
AXGN	+ 0.73	LNSR
AXGN	+ 0.72	AIMD
IRIX	+ 0.72	SRDX
LNSR	+ 0.67	AIMD

High negative correlations

AXGN	- 0.89	RXST
TMCI	- 0.86	SRDX
LNSR	- 0.84	SRDX
AXGN	- 0.78	SRDX
AXGN	- 0.74	IRIX
RXST	- 0.68	AIMD

Risk-Adjusted Indicators

There is a big difference between EnVVeno Stock performing well and EnVVeno Medical Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze EnVVeno Medical's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AZYO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIMD	5.91	0.84	0.11	(0.95)	6.14	(8.35)	17.74	(9.46)	74.23
SRDX	0.85	(0.13)	0.00	(0.86)	0.00	0.00	1.67	(1.84)	9.34
LNSR	3.07	0.44	0.13	0.58	3.09	(3.31)	7.49	(5.36)	20.58
IRIX	2.32	(0.35)	0.00	(0.91)	0.00	0.00	6.15	(4.64)	17.43
RXST	2.14	(0.63)	0.00	(0.79)	0.00	0.00	3.73	(6.46)	15.79
AXGN	2.55	0.70	0.28	1.98	2.24	(3.39)	5.32	(3.03)	21.20
TMCI	2.85	0.47	0.18	0.47	2.28	(3.92)	8.14	(3.88)	18.71
LUNG	3.19	0.76	0.26	(1.03)	2.57	(3.80)	6.22	(5.01)	34.92
OFIX	1.13	(0.12)	0.00	(0.19)	0.00	0.00	2.18	(2.43)	6.60

EnVVeno Medical Corporate Management

Andrew Cormack	Chief Officer	Profile
Craig Glynn	Treasurer CFO	Profile
Benedict MD	Chief States	Profile
Sandy Prietto	Vice Marketing	Profile
Robert Berman	CEO Director	Profile
Marc MD	Senior Officer	Profile
Hamed Alavi	Senior Officer	Profile

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